cryptoglobe.com
In Q3 2019, digital asset manager Grayscale Investments saw the strongest demand for its products in the third quarter since the firm's inception.
Its banner product, the Grayscale Bitcoin Trust, saw $171.7 million in inflows in the three months - the heaviest investment period in the Trust's six-years. This included one single day in July which saw inflows of $75 million. July was its strongest ever month of inflows.
Records Hit Despite Crypto Price Drop
The majority (80%) of the investment inflows during the quarter came from institutional investors (dominated by hedge funds), helping bring the total assets under management to $2.1 billion. This was in spite of a pull-back in cryptocurrency prices during the quarter.
Grayscale said in its report:
Despite the latest drawdown, the 2019 large cap-led bull market appears to remain intact, supported by record demand for digital asset exposure through the Grayscale family of investment products.
Featured Image Courtesy of Grayscale Investments